Universal Service Credit Sample Clauses

Universal Service Credit. In accordance with MPSERS requirements of either Basic or MIP, each retiring employee has the option of using accumulated sick leave time to purchase Universal Service Credits up to the maximum allowed at the accumulated leave time payout rate. The retiring employee shall initiate the tax deferred purchase process with MPSERS. Upon approval of the application by MPSERS, and pursuant to IRS guidelines, the District will pay the accumulated leave money at the time the retiring employee receives his or her last pay. The amount may be set up as a payroll deduction and forwarded to MPSERS to facilitate this purchase.
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Universal Service Credit i. In accordance with MPSERS requirements of either Basic or MIP, each retiring employee has the option of using accumulated sick leave time to purchase Universal Service Credits up to the maximum allowed at the accumulated leave time payout rate. The retiring employee shall initiate the tax deferred purchase process with MPSERS. Upon approval of the application by MPSERS, and pursuant to IRS guidelines, the District will pay the accumulated leave money at the time the retiring employee receives his or her last pay. The amount may be set up as a payroll deduction and forwarded to MPSERS to facilitate this purchase. ii. Accumulated leave time shall end upon termination of employment except when a leave of absence is granted by the Board under the Leave of absence provision of this Agreement. iii. The payment for accumulated leave days or vacation days if applicable will be placed in a special pay plan 401(a) account if the dollar value of the payment is $500.00 or more. The account is subject to IRS contribution amount limits. The plan will be under the employees name and social security number. The employee may request from the authorized company a distribution in cash or self-direct the investment of their money. iv. If the dollar value for accumulated leave days and/or vacation days, if applicable, is less than or equal to $499.99, the employee shall receive the payment via the normal payroll process and subject to withholding of all applicable taxes. v. For employees who are under age 55 at the time of retirement, and who, prior to their retirement, notify payroll in writing that they will be withdrawing their funds in cash and have received the cash distribution from Valic or other District selected sponsor special pay plan 401(a) account within 90 days of their retirement, the district will provide on a payroll check an additional amount equal to the difference between the tax penalty and the FICA savings.
Universal Service Credit. Whenever a bargaining unit member who was hired prior to September 1, 2007, and has at least ten (10) years of service (not including purchased service, service grants or time spent on voluntary unpaid leave) as of January 1, 2008, terminates his/her employment and, at the same time, is eligible to collect an annuity from the MEA/MESSA/MEA-Financial Services Staff Retirement Plan and Trust, that bargaining unit member shall be credited with additional years of Universal Service Credit as follows: Years of Employment Completed with MEA, MESSA, MEA-FINANCIAL SERVICES and/or MEDNA Year(s) of Universal Service Credit At least 15 but less than 20 1 25 or more 3 Whenever a bargaining unit member who was hired prior to September 1, 2007, and has less than ten (10) years of service (not including purchased service, service grants or time spent on voluntary unpaid leave) as of January 1, 2008, terminates his/her employment and, at the same time, is eligible to collect an annuity from the MEA/MESSA/MEA- Financial Services Staff Retirement Plan and Trust, that bargaining unit member shall be credited with one (1) year of universal service credit. All service credit grants provided above are subject to eligibility requirements of the MEA/MESSA/MEA-Financial Services Staff Retirement Plan and Trust, Section 3.03. Bargaining unit members hired after August 31, 2007, shall not be eligible for universal service credit.
Universal Service Credit. In accordance with MPSERS requirements of either Basic or MIP, each retiring employee has the option of using accumulated sick leave time to purchase Universal Service Credits up to the maximum allowed at the accumulated leave time payout rate. The retiring employee shall initiate the tax deferred purchase process with MPSERS. Upon approval of the application by MPSERS, and pursuant to IRS guidelines, the District will pay the accumulated leave money at the time the retiring employee receives his or her last pay. The amount may be set up as a payroll deduction and forwarded to MPSERS to facilitate this purchase.  Accumulated leave time shall end upon termination of employment except when a leave of absence is granted by the Board under the Leave of absence provision of this Agreement.  The payment for accumulated leave days or vacation days if applicable will be placed in a special pay plan 401(a) account if the dollar value of the payment is $500.00 or more. The account is subject to IRS contribution amount limits. The plan will be under the employees name and social security number. The employee may request from the authorized company a distribution in cash or self-direct the investment of their money.  If the dollar value for accumulated leave days and/or vacation days, if applicable, is less than or equal to $499.99, the employee shall receive the payment via the normal payroll process and subject to withholding of all applicable taxes.  For employees who are under age 55 at the time of retirement, and who, prior to their retirement, notify payroll in writing that they will be withdrawing their funds in cash and have received the cash distribution from Valic or other District selected sponsor special pay plan 401(a) account within 90 days of their retirement, the district will provide on a payroll check an additional amount equal to the difference between the tax penalty and the FICA savings.

Related to Universal Service Credit

  • Universal service 1. Each Party has the right to define the kind of universal service obligations that it wishes to maintain. 2. Each Party shall administer any universal service obligation that it maintains in a transparent, non-discriminatory, and competitively neutral manner and shall ensure that its universal service obligation is not more burdensome than necessary for the kind of universal service that it has defined.

  • Service Credit To the extent that any Transferred Employee’s acquired rights are not already protected by the Transfer Regulations or other applicable Law, Purchaser shall, and shall cause its Affiliates to, recognize the prior service of, or recognized with respect to, each Transferred Employee as if such service had been performed with Purchaser for all purposes, including eligibility, vesting, service-related level of benefits and benefit accrual (except for any benefit accruals for U.S. union and non-union hourly Transferred Employees under the defined benefit Rexam Pension Plan, provided that such service for benefit accruals purposes under the Rexam Pension Plan shall be recognized for purposes of early retirement subsidies in accordance with Schedule 5.1(h)) under the employee benefit plans and policies provided by Purchaser to such Transferred Employee following the Closing, to the same extent such service was recognized by Seller, Rexam or any of their respective Affiliates, as applicable, immediately prior to the Closing. Purchaser shall, or shall cause its Affiliates (including the Purchased Entities) to, (i) waive any preexisting condition limitations otherwise applicable to Transferred Employees and their eligible dependents under any plan of Purchaser or any Affiliate of Purchaser that provides health or life benefits in which the Transferred Employees may be eligible to participate following the Closing, other than any limitations that were in effect with respect to a Transferred Employee as of the Closing under the analogous Employee Benefit Plan, (ii) honor any deductible, co-payment and out-of-pocket maximums incurred by the Transferred Employees and their eligible dependents under the health plans in which they participated immediately prior to the Closing during the portion of the calendar year prior to the Closing in satisfying any deductibles, co-payments or out-of-pocket maximums under health plans of Purchaser or any of its Affiliates in which they are eligible to participate after the Closing in the same plan year in which such deductibles, co-payments or out-of-pocket maximums were incurred and (iii) waive any waiting period limitation or evidence of insurability requirement that would otherwise be applicable to a Transferred Employee and his or her eligible dependents on or after the Closing, in each case to the extent such Transferred Employee or eligible dependent had satisfied any similar limitation or requirement under an analogous Employee Benefit Plan prior to the Closing.

  • Service Credits Employees on pregnancy leave shall be entitled to normal accumulation of service credits for the duration of the pregnancy leave.

  • Military Service Credit The City’s contract with CalPERS provides the Military Service Credit option set forth in Government Code section 21024.

  • Long Service Leave (1) Subject to subclause (3) of this clause, an employee who has completed ten years’ continuous service with the employer shall be entitled to (a) up to 31 December 2006, ten weeks’ long service leave (b) from 1 January 2007, thirteen weeks’ long service leave (c) For each subsequent period of ten years’ service an employee shall be entitled to an additional thirteen weeks’ long service leave. (2) An employee who has accrued a minimum entitlement of ten weeks’ long service leave shall be entitled to take such leave. (3) Employees are entitled to take long service leave in minimum periods of one week. (4) In calculating an employee’s entitlement under this clause, continuous service with the employer prior to the 1st day of January 1997 shall be taken into account in the following manner: (a) In the case of an employee who has already accrued an entitlement to long service leave with the employer prior to the 1st day of January, 1997, the employee shall continue to accrue subsequent entitlements to long service leave in accordance with the provisions of subclause (1) of this clause. (b) In the case of an employee who, at the 1st day of January 1997, had not accrued an entitlement to long service leave, the employee’s entitlement shall be calculated on the following basis: For any period of continuous employment prior to the 1st day of January 1997, an amount calculated on the basis of 13 weeks’ long service leave on full pay for each 15 years of continuous service, in accordance with the relevant award. (c) In the case of employees who have worked less than full-time during the accrual period, long service leave shall be paid at the rate of the average of hours worked over the accrual period. (5) The expression “continuous service” includes any period during which the employee is absent on full pay from their duties, but does not include: (a) Any period exceeding two weeks during which the employee is absent on leave without pay. In the case of leave without pay which exceeds eight weeks in a continuous period, the entire period of that leave is excised in full; (b) Any service of an employee who resigns or is dismissed, other than service prior to such resignation or prior to the date of any offence in respect of which they are dismissed by the employer, when that prior service has actually entitled the employee to long service leave under this clause. (6) Any entitlement to annual leave that falls due during the period of long service leave shall be recognised as extra leave and not included in the long service leave. (7) Any public holiday which occurs during the period an employee is on long service leave shall be treated as part of the long service leave and extra days in lieu thereof shall not be granted. (8) Where an employee has become entitled to a period of long service leave in accordance with this clause, the employee shall commence such leave as soon as possible after the accrual date, or in a manner mutually agreed between the employer and employee. (9) Payment for long service leave shall be made; (a) in full before the employee goes on leave, or (b) by the normal fortnightly payment intervals; (c) or by agreement between the employee and the employer. (10) Where an employee has completed at least 7 years’ service but less than 10 years’ service and employment is terminated- (a) by their death; (b) in any circumstances, other than serious misconduct, the amount of leave shall be such proportion to the number of completed years of such service bears to 10 years. (11) In the case to which subclause (8) of this clause applies and in any case in which the employment of the employee who has become entitled to leave hereunder is terminated before such leave is taken or fully taken the employer shall, upon termination of employment otherwise than by death, pay to the employee and upon termination by death, pay to the personal representative of the employee upon request by the personal representative, a sum equivalent to the amount which would have been payable in respect of the period of leave to which they are entitled or deemed to have been entitled and which would have been taken but for termination. Such payment shall be deemed to have satisfied the obligation of the employer in respect of leave hereunder. (12) Where an employee is ill during a period of long service leave and produces at the time, or as soon as practicable thereafter, medical evidence that would satisfy a reasonable person that as a result of illness or injury the employee was confined to their place of residence or a medical facility for a period of at least fourteen (14) consecutive days, the employer shall grant sick leave for the period the employee was so confined and reinstate long service leave equivalent to the period of confinement.

  • Dental Services The following dental services are not covered, except as described under Dental Services in Section 3: • Dental injuries incurred as a result of biting or chewing. • General dental services including, but not limited to, extractions including full mouth extractions, prostheses, braces, operative restorations, fillings, frenectomies, medical or surgical treatment of dental caries, gingivitis, gingivectomy, impactions, periodontal surgery, non-surgical treatment of temporomandibular joint dysfunctions, including appliances or restorations necessary to increase vertical dimensions or to restore the occlusion. • Panorex x-rays or dental x-rays. • Orthodontic services, even if related to a covered surgery. • Dental appliances or devices. • Preparation of the mouth for dentures and dental or oral surgeries such as, but not limited to, the following: o apicoectomy, per tooth, first root; o alveolectomy including curettage of osteitis or sequestrectomy; o alveoloplasty, each quadrant; o complete surgical removal of inaccessible impacted mandibular tooth mesial surface; o excision of feberous tuberosities; o excision of hyperplastic alveolar mucosa, each quadrant; o operculectomy excision periocoronal tissues; o removal of partially bony impacted tooth; o removal of completely bony impacted tooth, with or without unusual surgical complications; o surgical removal of partial bony impaction; o surgical removal of impacted maxillary tooth; o surgical removal of residual tooth roots; and o vestibuloplasty with skin/mucosal graft and lowering the floor of the mouth. • The following dialysis services received in your home: o installing or modifying of electric power, water and sanitary disposal or charges for these services; o moving expenses for relocating the machine; o installation expenses not necessary to operate the machine; and o training in the operation of the dialysis machine when the training in the operation of the dialysis machine is billed as a separate service. • Dialysis services received in a physician’s office.

  • Prior Service Credit A unit employee who has had a break in service shall be credited with prior periods of full-time state employment for leave accrual purposes if that employee's current period of full-time state employment has been three (3) or more continuous years in duration. Only prior periods of full-time state employment of two (2) or more consecutive years in duration shall be eligible for crediting.

  • Special Services Should the Trust have occasion to request the Adviser to perform services not herein contemplated or to request the Adviser to arrange for the services of others, the Adviser will act for the Trust on behalf of the Fund upon request to the best of its ability, with compensation for the Adviser's services to be agreed upon with respect to each such occasion as it arises.

  • Vision Care Services For purposes of coordination of benefits, vision care services covered under other plans are not considered an allowable expense, as defined in the Coordination of Benefits and Subrogation in Section 7.

  • Verizon OSS Services 8.2.1 Upon request by ECI, Verizon shall provide to ECI Verizon OSS Services. Such Verizon OSS Services will be provided in accordance with, but only to the extent required by, Applicable Law. 8.2.2 Subject to the requirements of Applicable Law, Verizon Operations Support Systems, Verizon Operations Support Systems functions, Verizon OSS Facilities, Verizon OSS Information, and the Verizon OSS Services that will be offered by Verizon, shall be as determined by Verizon. Subject to the requirements of Applicable Law, Verizon shall have the right to change Verizon Operations Support Systems, Verizon Operations Support Systems functions, Verizon OSS Facilities, Verizon OSS Information, and the Verizon OSS Services, from time-to-time, without the consent of ECI. 8.2.3 To the extent required by Applicable Law, in providing Verizon OSS Services to ECI, Verizon will comply with Verizon’s applicable OSS Change Management Guidelines, as such Guidelines are modified from time-to-time, including, but not limited to, the provisions of the Guidelines related to furnishing notice of changes in Verizon OSS Services. Verizon’s OSS Change Management Guidelines will be set out on a Verizon website.

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